Brookfield Infrastructure Co. $BIPC Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC raised its position in Brookfield Infrastructure Co. (NYSE:BIPC) by 66.4% during the third quarter, Holdings Channel reports. The firm owned 2,533,525 shares of the company’s stock after buying an additional 1,011,401 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield Infrastructure were worth $104,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BIPC. Baskin Financial Services Inc. grew its stake in shares of Brookfield Infrastructure by 0.9% in the third quarter. Baskin Financial Services Inc. now owns 35,495 shares of the company’s stock valued at $1,457,000 after buying an additional 328 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Brookfield Infrastructure by 1.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 36,773 shares of the company’s stock valued at $1,530,000 after buying an additional 350 shares during the period. International Assets Investment Management LLC raised its stake in shares of Brookfield Infrastructure by 1.3% in the third quarter. International Assets Investment Management LLC now owns 31,914 shares of the company’s stock valued at $1,343,000 after acquiring an additional 400 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Brookfield Infrastructure by 1.9% in the second quarter. PNC Financial Services Group Inc. now owns 21,926 shares of the company’s stock valued at $912,000 after purchasing an additional 405 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Brookfield Infrastructure by 3.0% during the 2nd quarter. Franklin Resources Inc. now owns 14,336 shares of the company’s stock worth $597,000 after purchasing an additional 420 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $49.55 on Monday. The stock’s 50-day moving average is $46.40 and its two-hundred day moving average is $43.96. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $51.72. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 30.85 and a beta of 1.36.

Brookfield Infrastructure Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a yield of 384.0%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BIPC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Morgan Stanley set a $57.00 price target on shares of Brookfield Infrastructure in a report on Wednesday, January 28th. Finally, Wall Street Zen upgraded Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $57.00.

About Brookfield Infrastructure

Brookfield Infrastructure (NYSE: BIPC) is a global owner, operator and investor in essential infrastructure assets. As the corporate class of Brookfield Infrastructure Partners L.P., the company provides exposure to a diversified portfolio spanning utilities, transport, energy midstream and data infrastructure. Its holdings generate stable cash flows underpinned by regulated or long-term contracted revenue streams.

Since its formation in 2008 and U.S. listing in 2017, Brookfield Infrastructure has pursued a disciplined strategy of acquiring and managing high-quality infrastructure businesses.